Q4 Results: Emami Slides 3.46%; Revenue and Margins Under Pressure

Mumbai, May 21: Emami Limited (NSE: EMAMILTD) came under sustained selling pressure on Thursday, with the stock declining sharply after the company reported a weak set of Q4 FY26 consolidated results that disappointed investors on both revenue and profitability.

The stock opened at ₹431.95 a positive start relative to its previous close of ₹428.80 and traded steadily in the ₹430–₹438 band through the first half of the session, touching an intraday high of ₹438 before the results-driven selloff set in. From around 1:45 PM, the stock fell sharply, breaking below ₹430 and continuing to slide toward a session low of ₹410.10 a drop of nearly ₹28 from the intraday high in under two hours.

The LTP stood at ₹418.85, down ₹14.85 or 3.46% from the previous close of ₹428.80, with the VWAP for the day at ₹418.70 confirming that the sharp afternoon fall pulled the day’s average well below the morning’s trading levels. The order book at the time of writing showed 55.60% on the buy side versus 44.40% on the sell side, suggesting some bottom-fishing interest is emerging at lower levels, though the heavy intraday swing indicates that the bulk of the day’s damage has already been done.

Weekly Trend

The weekly chart tells a story of a stock that had been building momentum before Thursday’s sharp reversal. Emami opened the week of May 14 around ₹425, held that level through May 15 before edging up to approximately ₹427 on May 15, then pulling back marginally on May 16 and 17 to around ₹423. The stock then surged to a weekly high of approximately ₹435 on May 19 its best level of the week before closing Wednesday at ₹428.80. Thursday’s fall to ₹418.85 has effectively erased the entire week’s gain and then some, leaving the stock below where it started the week and pointing to a challenging near-term setup.

Q4 FY26 Consolidated Results

Emami’s Q4 FY26 consolidated results were broadly disappointing, with revenue from operations declining 3.9% year-on-year to ₹925.1 crore from ₹963 crore in Q4 FY25 a rare revenue contraction for the FMCG major that reflects weak consumer demand and volume pressure in its core categories. EBITDA fell sharply by 14.9% to ₹186.7 crore from ₹219.4 crore in Q4 FY25, with the EBITDA margin contracting significantly to 20.2% from 22.8% a year ago a 260 basis point compression driven by a 12.2% jump in advertising and promotion spends to ₹212 crore. Profit after tax declined 11.7% to ₹143.2 crore from ₹162.2 crore in Q4 FY25, as higher staff costs (+5.7%) and increased depreciation (+9%) added further pressure on the bottom line despite a 33.7% reduction in the tax charge.

FY26 Full-Year Consolidated Results

The full-year picture was similarly subdued. Revenue from operations for FY26 declined 0.8% to ₹3,779.5 crore from ₹3,809.2 crore in FY25, making it a year of near-flat top-line performance for the company. EBITDA fell 6% to ₹963.6 crore from ₹1,025.1 crore in FY25, with the EBITDA margin narrowing to 25.5% from 26.9% a 140 basis point compression for the full year, reflecting the dual burden of elevated A&P investment and rising staff costs. Profit after tax for FY26 came in at ₹775.3 crore, down 3.4% from ₹802.7 crore in FY25, with exceptional items of ₹10.1 crore further weighing on the reported PBT of ₹846.1 crore against ₹893.9 crore a year earlier. No dividend or bonus share issuance was mentioned in the results presentation made available at the time of this report.

Emami’s board declared a total dividend of ₹10 per share for FY26 comprising a first interim dividend of ₹4 per share declared on November 10, 2025 and a second interim dividend of ₹6 per share declared on February 4, 2026 representing a total payout of 1,000% on the face value of the share. The combined dividend outflow for the full year stood at ₹436.5 crore, with the first tranche amounting to ₹174.6 crore and the second to ₹261.9 crore.

Source:

• https://www.nseindia.com/get-quote/equity/EMAMILTD/Emami-Limited